{"id":19164,"date":"2023-03-27T07:06:23","date_gmt":"2023-03-27T07:06:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/number-of-irretrievably-lost-btc-now-6-million-cane-island-manager-featured-bitcoin-news\/"},"modified":"2023-03-27T07:06:23","modified_gmt":"2023-03-27T07:06:23","slug":"number-of-irretrievably-lost-btc-now-6-million-cane-island-manager-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/number-of-irretrievably-lost-btc-now-6-million-cane-island-manager-featured-bitcoin-news\/","title":{"rendered":"Number of Irretrievably Lost BTC Now 6 Million \u2014 Cane Island Manager \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The number of irretrievably lost bitcoins has now reached 6 million, which leaves 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. Peterson added that out of the 1.7 million bitcoins that will be mined in the next 100 years or more, one million coins will be lost in the same period.<\/strong><\/p>\n

One Million Lost Bitcoins<\/h2>\n

According to Timothy Peterson, an author and manager of Cane Island Alternative Advisors, the number of irretrievably lost bitcoins has now reached 6 million. In his latest tweet on the subject, Peterson asserts that from the estimated 19.3 million bitcoins that had been mined by March 25, 2023, only 13.3 million remain in circulation which is \u201cprobably all you will have access to in your lifetime.\u201d<\/p>\n

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I estimate that, as of this week, 6 million of the 19.3 million #bitcoin<\/a> mined have been irretrievably lost. (See related research at https:\/\/t.co\/ULso76SXjD<\/a> ) This means 13.3 million remain with only 1.7 million left to be mined over the next 100+ years. In that time, it’s\u2026 pic.twitter.com\/WpiSNT9TSF<\/a><\/p>\n

\u2014 Timothy Peterson, CFA CAIA (@nsquaredcrypto) March 25, 2023<\/a><\/p>\n<\/blockquote>\n

The author\u2019s latest estimate of the number of bitcoins that will ever circulate appears to be in tandem with his 2020 prediction. As reported by Bitcoin.com News in Sept. 2020, Peterson claimed then that the ongoing loss of an estimated 1,500 BTC<\/a> per day meant only fewer than 14 million coins will ever circulate. In their 2020 note, researchers at Cane Island also insisted that the widely used BTC<\/a> capitalization is inaccurate because it includes coins that are irretrievably lost.<\/p>\n

While some bitcoiners have either questioned or dismissed Peterson\u2019s past claims including Cane Island\u2019s April 16, 2020 research note, in his March 25 tweet the author appears to use the same findings to back his latest prediction. In the tweet, he also predicts a loss of one million BTC<\/a> in the next 100+ years.<\/p>\n

\u201cThis means 13.3 million remain with only 1.7 million left to be mined over the next 100+ years. In that time, it\u2019s almost certain that another million will be lost, and old coins are being lost as new coins are being created. The 13 million circulating now is probably all you will have access to in your lifetime,\u201d Peterson explained in the tweet.<\/p>\n

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#Bitcoin<\/a> Active Supply through Time<\/p>\n

In The Spectacular Journey of #Bitcoin<\/a> series,
we today look at Active Supply through time<\/p>\n

Has #BTC<\/a> found its equilibrium?<\/p>\n

Check my free, open site for #onchain<\/a> analysis https:\/\/t.co\/yVmCtJlihh<\/a><\/p>\n

Data is gathered from my own bitcoin node. pic.twitter.com\/RBeO8OgUEf<\/a><\/p>\n

\u2014 The \u20bfitcoin Researcher (@ResearchBTCNow) October 26, 2022<\/a><\/p>\n<\/blockquote>\n

However, in their response to Peterson\u2019s latest tweet, a user going by the name of The Bitcoin Researcher insisted that the number of BTC<\/a> in circulation is in fact 15.5 million. According to their tweet, The Bitcoin Researcher has based their findings on the assumption that coins which have not moved for the past seven years are lost.<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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